Real Estate Math
A borrower makes 360 monthly payments of $1,200. The original loan was $180,000. How much total interest was paid?
A$252,000✓ Correct
B$252,000
C$72,000
D$432,000
Explanation
Total payments = 360 × $1,200 = $432,000. Total interest paid = Total payments - Original loan = $432,000 - $180,000 = $252,000.
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